Business News

Nuclear nerves wipe $1 trillion off world stocks

LONDON (Reuters) - The damage inflicted on world stocks this week by the escalating war of words over North Korea topped $1 trillion on Friday, as investors again took cover in the yen, the Swiss franc, gold and government bonds. With the tense mood pushing European shares down for a third day [EU] and Wall Street set to fall again ESc1[.N], global stocks .WORLD were on course for their worst week since Donald Trump ...

11 Aug 12:39 PM 0 Read More...

Exclusive: Saudi Arabia favours New York for Aramco listing despite risks - sources

DUBAI/RIYADH/LONDON (Reuters) - Saudi Arabia favours New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, people familiar with the matter told Reuters. A final decision on where to stage what could be the world's largest initial public offering will be taken by Crown Prince Mohammad bin Salman - o...

11 Aug 12:39 PM 0 Read More...

U.S. economic expansion to last another two years or more: Reuters poll

BENGALURU (Reuters) - The U.S. economic expansion will last at least another two years, according to a majority of economists polled by Reuters who also forecast growth will not accelerate the way the Trump administration has predicted. The recovery from the devastating 2007-2009 financial crisis has been unusually lengthy. The latest growth stretch has already lasted 96 months, and if the poll predictions come true ...

11 Aug 12:39 PM 0 Read More...

Exclusive: Amazon in talks to offer event ticketing in U.S. – sources

NEW YORK/SAN FRANCISCO (Reuters) – Amazon.com Inc (AMZN.O) is seeking to partner with U.S. venue owners to sell event tickets, four sources have told Reuters, a move that could loosen Ticketmaster’s powerful grip on the lucrative ticketing business. If Amazon moves ahead, it would represent the latest attempt by the world’s largest online retailer to use its massive customer base, tech savvy and bargaining po...

11 Aug 2:34 AM 0 Read More...

Uber investor sues to force former CEO Kalanick off board

SAN FRANCISCO (Reuters) - Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride services company and rescind his ability to fill three board seats, according to the lawsuit. The lawsuit filed Thursday accuses Kalanick of concealing a range of misdeeds from the board and scheming to retain power at the company even after he was forced...

10 Aug 9:30 PM 0 Read More...

Snap posts lower-than-expected daily active users, shares drop

(Reuters) - Snap Inc shares slumped more than 12 percent in extended trading on Thursday after the Snapchat parent reported user growth and revenue that fell short of analyst expectations. Snap shares have tumbled since their March market debut as investors worry about the company's ability to compete for users and advertising dollars with rivals like Facebook Inc's Instagram, which has features similar to the Snapc...

10 Aug 9:30 PM 0 Read More...

Exclusive: Amazon in talks to offer event ticketing in U.S.- sources

NEW YORK/SAN FRANCISCO (Reuters) - Amazon.com Inc (AMZN.O) is seeking to partner with U.S. venue owners to sell event tickets, four sources have told Reuters, a move that could loosen Ticketmaster's powerful grip on the lucrative ticketing business. If Amazon moves ahead, it would represent the latest attempt by the world's largest online retailer to use its massive customer base, tech savvy and bargaining power to s...

10 Aug 9:30 PM 0 Read More...

S&P falls 1.4 percent in safety flight on North Korea tensions

NEW YORK (Reuters) - The S&P 500 index had its biggest one-day drop in almost three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea. U.S. equities steepened their losses late in the session after President Donald Trump said his earlier warnings to North Korea may ...

10 Aug 9:30 PM 0 Read More...

Nordstrom websites boost same-store sales, shares jump

(Reuters) - Nordstrom Inc (JWN.N) reported better-than-expected quarterly same-store sales on Thursday as more people shopped at the apparel retailer's online stores, sending shares up 2.5 percent after the bell. The upscale Seattle-based clothing and accessories retailer also slightly raised its full-year earnings forecast to $2.85-$3 per share from $2.75-$3 per share, and said it now expected net sales for the year...

10 Aug 9:29 PM 0 Read More...

Wall Street reels under North Korea tensions, tepid retail earnings

(Reuters) - U.S. stocks fell sharply on Thursday, with the Dow slipping more than 100 points, as lackluster results from retailers Macy's and Kohl's added to investor nervousness over escalating tensions between the United States and North Korea. North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific island territory of Guam in an unusually detailed ...

10 Aug 4:25 PM 0 Read More...